Kwipped, Inc.

Kwipped, Inc. is an innovative online marketplace facilitating the rental, financing, and sale of a wide range of equipment, connecting businesses with suppliers and financing companies for efficient equipment access. Founded in 2014, Kwipped, Inc. operates as an online platform that connects businesses with equipment suppliers and financing options.

The firm has engaged in 3 deals, with the most recent funding round occurring on December 20, 2018, where it raised USD 1. 31 mn from Live Oak Bank. The company is headquartered in Washington, US, and is led by CEO Robert Preville, who has a history of founding ventures in the equipment rental sector. Kwipped operates as an innovative online marketplace specializing in the rental, financing, and sale of a diverse range of equipment.

The platform connects businesses with a wide array of premier suppliers and equipment finance companies, facilitating seamless access to necessary tools and machinery across various industries. Kwipped's core offerings are designed to streamline the equipment sourcing process for renters, enabling them to obtain quotes efficiently and verify their business details as part of the rental or financing process. The marketplace serves a global clientele that includes small to medium-sized enterprises and larger corporations seeking short-term or long-term equipment solutions across sectors such as construction, manufacturing, and healthcare. The company effectively distributes its services across North America, Europe, and parts of Asia, ensuring that businesses in these regions can access essential equipment for their operational needs.

Kwipped generates revenue primarily through transactions facilitated on its platform, where clients can rent or finance equipment directly from suppliers. The transaction structure typically involves a B2B model, where businesses enter into agreements with Kwipped to access a variety of equipment. Clients may choose to engage in rental agreements that span days, weeks, or months, with pricing aligned to the equipment type and rental duration. Additionally, the platform may offer financing options, allowing clients to purchase equipment over time.

While specific pricing plans for individual products are not disclosed, the revenue framework is built around facilitating these transactions, making Kwipped a vital player in the equipment rental and leasing market. The company’s flagship service lies in its commitment to provide businesses with quick access to a wide inventory of equipment while ensuring a streamlined financial process. As of December 2018, Kwipped plans to utilize the recent funding of USD 1. 31 mn from Live Oak Bank to enhance its platform and expand its offerings.

The company is looking to launch new products aimed at improving user experience and increasing efficiency in renting and financing equipment. Furthermore, Kwipped is targeting expansion into additional markets in Europe and Asia by the end of 2023, aiming to broaden its global reach and service capabilities.